Jan 23 Logitech, the No. 1 maker of
computer mice, swung to a third-quarter loss from a year earlier
and said it would divest non-strategic products, as it continues
to be hit hard by weakness in the global PC market.
Struggling to adapt to a market increasingly dominated by
touch-screen tablets and smartphones which do not need mice, it
posted a net loss of $195 million, or $1.24 per share in the
That compares with a net profit of $55 million, or $0.32 per
share in the same period a year earlier. Quarterly sales fell 14
percent to $615 million.
"Continued weakness in the global PC market was the primary
factor in our disappointing Q3 results," Chief Executive Bracken
Darrell said in a statement.
Darrell said the company has started divesting its remote
controls and digital video security businesses and plans to
discontinue other non-strategic products, such as speaker docks
and console gaming peripherals, by the end of 2013.
It took a $211 million charge on its underperforming video
conferencing unit. Excluding the impairment charge,
third-quarter non-GAAP operating income would have been $31
million and non-GAAP net income would have been $16 million,